Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1887-10-29
WERE The MONEY WENT:
,-er Nichols OF the Central
%. m the Stand Before the
Pacific Railroad Com
mission.
u-,,sioner Lyman on . Nen.Par
...n Civil Service-The Presi.
DENTS Thanksgiving Day
Proclamation.

80 YORK, OCTOBER - Pacific
lad Commission resumed its inquiries
Wv. It's in sestigatitns are about to
A telegram f:oa, Governor Sta niord
av .rsad. in which he denied the authority
'ts court to inquire into the equities ex.
~, between the Government and the
s.,,al Pacific. Bingham H. Nichols,
'.0rly treasurer OF the Central
'.r,b OF the Central Pacific railway, then
s''vp as the Atchison & Pixies Peak Rail.
>, wss the first witness. He detailed
=, orca ni.ation and construction OF the
-, hundred miles Of the Atchis. n & Pixies
sss Railroad: said he considered that the
an had a perfect right to consolidate
An another road and tia: its grants of
md should go to the road in which it was
s,,ad. Witness explained the difficulties
ssy mad experienced in trying to fulfil the
s,rprnment requirement. and have finally
and it impossible to fully carry out the
I'd. Only one.tenth of the lands which
re to he granted by the Government
,e to them. Witness said q statute
PERMITTED THE CONSOLIDATION.
, tn. consolidation with the Atchiaon,
norado & Pacific, among the controlling
,orers we're Oliver Ames, R. N. Pomeroy,
.sstu- Corning. Chauncey and Henry
Wizard, VIM. C. Wetmore, John A. Stuart,
G vernon Wm. Claflin, and A. 8. Barnes.
Tie road employed. among many others,
T6ns. A. Hendricks and Reverdy johnson,
bu. not when they we're in office. Before
organization, when he came in, four hun.
dred first mortgage bonds were Issued to
those previously in power, bnt he never
found the reason for it.. This obligation
sss made emotional when be and his
friends went into the company. Witness
never received any of the $500 bonds. fhe
hooks OF construction OF the road. known
THE osBoRN BOOKS
rsre lost. No other money save the bonds
ras dsbursed except for compensation.
Witness said no bond was distributed ex-
sp. for a return, but the bonds were issued |
consideration of loans. II 600 was
Ut into the company for three or four
ouths a bond would be given. About
five bonds were 80 issued. Gov |
nor Asnes kept a memorandum of the
,sd's transactions in note hook. Between |
SO and 1873 the railroad vas in a bad /
sy. In 1879 the FIRST mortgage had to be |
When witness and his friends re.
TO run the road to Denver, Jay |
ould stepped in and paid $3.50 per share |
stock that was OF little value. After
be sale was made witness who conducted |
was paid SIS, 900 for legal services.
Then be went to Washington in 1868 to see
bout the bill for the relief OF the Central
ranch Mr. Nichols
INTERVIEWED II CONGRESSMAN.
% money was given to congressman, but
ONE was expended in dinners for them ut
he Arlington. These were given for the
urpose OF getting acquainted With MEM
ers and talking about the bill. Bet ween
and July. 1880, $23,441 was ex.
enied for such Incidental expenses. VIII
am N. Evarts was paid a fee OF 5000.
Two items OF 81 900. which were charged
Sasiust him, Nichols said we're probably
for political n~rations OF Mr.. Pomeroy.
M. Nichols said any differences from the
books Of the Central Branch to the effect
that be had not paid full value for all
stock issued to him were incorrect. He
first at the rate OF $50 a ehare, and
,terwa d $40 a share. The books show
~ that for 1915 shares OF stock issued
tone time. and l9s shares at another.
e had only paid S32,I0O to the company,
COULD MOI BE RIGHT.
believes be had got shares OF his own
nd 100 shares OF his fathers estate. part
which he transferred to Oliver Ames
ichols said ne paid at the rate Of 500
share on stock received. He could not
why the books did not show
ny payment by him for 1873 shares at one
me, DOR could he explain why he should
ay lts par valuefor stock when Gould ~as
bout to buy in stock at $3.50, and
bile stock was selling as low as so
nts on tn dollar. Commissioner Ander-
IN sstonished the witness by asking him
hat had become of $4,000 charged
him on the books. Witness
it must have been for incidental
Ipense-. Witness thought the Central
ranch was Yet entitled to Government
nds 100 miles beyond the western termi-
1s Of the road. He did not believe
le fact hat they had not
irried their road that distance
any difference. They had filed their
APPS and were exo6erated from contin-
ance Of the road. Nichols believed the
sLould wipe outthea ccumula-
on OF interest on all claims against the
Railroads. as they have all benefited
lie public 70 a great extent. They could
pay the principal.